OTCPK:OTTEF - Post by User
Comment by
ad568on May 17, 2002 3:57pm
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Post# 5123482
RE: number of shares?
RE: number of shares?Obviously the math was too easy. I made a mistake in the previous posting. The f.d. number is a sliver under 23mil. NOT 30mil. as I had indicated.
Here's the stockwatch news release indicating most recently closed financing.
Tuesday May 14 2002 News Release
Mr. Bernard Robichaux reports
Osprey Energy's non-brokered private placement for up to three million units at 40 cents per unit has been oversubscribed by 300,000 units. Each unit consists of one common share and one non-transferable share purchase warrant exercisable at 60 cents for a two-year period until March 27, 2004. Proceeds will be used as working capital and to accelerate the continuing remedial work program on the company's oil and gas properties in Louisiana.
Osprey has granted 300,000 incentive stock options priced at 55 cents until Feb. 1, 2004, to directors, consultants and employees of the company.